Additional economic stimulus such as a payroll tax cut would boost hiring, Mike Jackson, the CEO of AutoNation, told CNBC on Thursday.

AutoNation, the largest U.S. auto retailer, on Thursday posted a quarterly profit on cost-cutting and the U.S. government's "Cash for Clunkers" program and said it would target dealership acquisitions as the market recovers.

What follows is a roundup of corporate earnings reports for Thursday, Oct. 29.

Cash for Clunkers was "one of the most successful stimulus programs of all time" that has helped the auto industry on its road to recovery, AutoNation CEO Mike Jackson told CNBC.

It was a race to the finish for dealers and customers alike as the government's Cash for Clunkers program headed into its final lap on Monday. 

AutoNation, the nation's largest auto dealership chain, said Saturday it hit the brakes on the popular Cash for Clunkers program three days early because it wants to make sure it can submit the paperwork on thousands of sales to the government before a Monday evening deadline.

AutoNation CEO Michael J. Jackson told CNBC Wednesday the government owes his company about $45 million in rebates from the cash-for-clunkers program, but said he still has faith in the program.

AutoNation  CEO Mike Jackson says buyers are coming to car showrooms, but the credit isn't there to make the sales.